Chancellor of the Exchequer Jeremy Hunt announced on Thursday a £55 billion fiscal plan with £30 billion in spending cuts and £25 billion in tax hikes. The measures which anticipate a cold winter and long recession in the UK, included an extra two-year freeze on income tax thresholds and a lowering of the top rate of income tax to £125,140
The signs of a recession of the German economy are multiplying, reads the monthly report from the country's central bank, Bundesbank, adding a slump that could last into next year.
United States public opinion is turning its back on president Joe Biden's administration since over three quarters believe is doing a poor job in handling the US economy according to a CNN/SSRS poll.
Rising inflation plus bad loans and government regulations anticipate a tough 2021 according to the CEO of Argentina's biggest private bank by market capitalization. “If inflation is high, there is a risk that bank results will fall to very low or negative levels in real terms,” Fabian Kon said in an interview in Buenos Aires.
Italy's former premier Matteo Renzi pulled his small party out of government on Wednesday, stripping the ruling coalition of its parliamentary majority and triggering political chaos even as the nation battles a resurgent COVID-19.
Latin American corporate credit indicators point to an improving economic and operating environment for most countries across the region in 2021, according to a series of new reports from Fitch Ratings.
Brazil’s economy probably rebounded at a record quarterly pace in July-September and was on track for a better start to 2021 than previously thought, as businesses and households recovered from the first surge in COVID-19 cases.
Colombia entered in recession for the first time since 1999 due to the paralysis caused by the Covid-19 pandemic, after registering for the second consecutive quarter a contraction in Gross Domestic Product (GDP).
Brazil is emerging from a recession caused by the coronavirus, Economy Minister Paulo Guedes said hours after the publication of a closely-watched indicator showing activity surged in the third quarter.
The U.S. economy grew at a historic pace in the third quarter as the government injected more than US$ 3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal.